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Lidl Leases 20,700 Square Feet Retail Space In Kips Bay From Ogden Cap Properties
LEASED
New York
See Similar DealsRetail41,400 SF
Leased 02/19/2025
LEASED
Lidl Leases 20,700 Square Feet Retail Space In Kips Bay From Ogden Cap Properties
135 East 31st Street & 155 East 31st Street
See Similar DealsRetail41,400 SF
Leased 02/19/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$0
Total Square Footage:41,400 SF
Transaction Type:Lease
The property involved in this transaction is a retail space located at 135-155 East 31st Street in Kips Bay, Manhattan. The space encompasses 20,700 square feet and is being leased by Lidl as part of its U.S. expansion strategy. The lease agreement has a duration of 15 years and involves Ogden Cap Properties as the landlord.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 135-155 East 31st Street
- Market: Kips Bay, Manhattan
- Square Footage: 20,700
- Landlord: Philip Milstein - Ogden Cap Properties
- Tenant: Joel Rampoldt - Lidl
This deal marks Lidl's first Manhattan location outside of Harlem, taking over a space previously occupied by Bed Bath & Beyond. Joel Rampoldt represents Lidl in this lease transaction, highlighting the retailer’s continued growth in urban markets.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$2,373,023.02
Total Lease Value
$23,730,230.17
Net Landlord Cash Flow$2,373,023.02
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